Bienstar Company uses job-order costing. During March, the following data were reported:

Bienstar Company uses job-order costing. During March, the following data were reported:
a. Purchased materials on account: direct materials, $82,000; indirect materials, $10,500.
b. Issued materials: direct materials, $72,500; indirect materials, $7,000.
c. Incurred labor cost: direct labor, $52,000; indirect labor, $15,750.
d. Incurred other manufacturing costs (all payables) of $49,000.
e. Applied overhead on the basis of 125 percent of direct labor cost.
f. Finished and transferred work to Finished Goods Inventory costing $160,000.
g. Sold finished goods costing $140,000 on account for 150 percent of cost.
h. Closed any over- or underapplied overhead to Cost of Goods Sold.
Required:
1. Prepare journal entries to record these transactions.
2. Prepare a T-account for Overhead Control. Post all relevant information to this account. What is the ending balance in this account?
3. Prepare a T-account for Work-in-Process Inventory. Assume a beginning balance of $10,000, and post all relevant information to this account. Did you assign any actual overhead costs to Work-in-Process Inventory? Why or why not?

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